Teacher Retirement System of Texas Cuts Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Teacher Retirement System of Texas cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 84.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,640 shares of the industrial products company's stock after selling 1,167,385 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of Tetra Tech worth $6,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTEK. Jones Financial Companies Lllp increased its holdings in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC purchased a new position in shares of Tetra Tech in the 4th quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,483 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Tetra Tech in the 4th quarter valued at about $61,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Tetra Tech in the 4th quarter valued at about $63,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Up 0.6%

NASDAQ TTEK traded up $0.21 during trading on Thursday, reaching $36.52. 1,216,785 shares of the company's stock were exchanged, compared to its average volume of 2,559,107. The stock has a market cap of $9.62 billion, a P/E ratio of 53.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average price of $35.09 and a two-hundred day moving average price of $33.94. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company's revenue was up 25.9% compared to the same quarter last year. On average, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.71%. Tetra Tech's dividend payout ratio is 37.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TTEK shares. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, KeyCorp upped their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Tetra Tech has a consensus rating of "Hold" and a consensus target price of $41.00.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.